Hey I’m Domm, it’s Thursday 23rd August 2018, and this is your daily precap of the latest and greatest technology, startups, and business news.

Wisetech, the Sydney based software provider to the logistics industry, who unlike rival GetSwift, is killing it on the ASX after releasing a huge result yesterday. They announced full year revenue of $221.6 million, up 44%.Net profit of $40.8 million, up 28%.And 2019 revenue guidance of around $320 million, projecting growth of nearly 50%.Rightly so, shares in WiseTech soared closing up 27.2% for the day.For all startups out there, this is a successful Australian tech company. A company that is delivering a 8 figure profit, for shareholders.That is success.

Sydney based Legaler, has performed a stunning oxymoron and raised $1.5 million of cash money. I saw an oxymoron, because the company is a a blockchain-for-legal startup and is planning an ICO or initial coin offering.But, much in the same way as Facebook advertising its apologies on TV and bus stops, it proves that in days of digital disruption, do not write-off traditional methods.

Saas Startup PractiFI has landed a $3M investment to expand its offering for wealth management companies throughout North America.

South Australia now has a Chief Entrepreneur replacing the Chief Innovator, and is backed by an office of the Chief Entrepreneur which will replace TechinSA which is the current driver of the SA startup community.Jim Whalley, the new Chief Entrepreneur is a co-founder of tech-centric defence services Nova Group and is a former fighter pilot.Jim has made some bold first words, suggesting that we need to be hailing entrepreneurs, especially, young entrepreneurs, as heroes.It seems to follow a similar path which Queensland’s Chief Entrepreneur Steve Baxter has, which is to acknowledge the entrepreneurs in a room, before government officials or other vip’s.As a startup founder myself, and a very keen observer of the space, I see an important distinction however, and do take issue with Jim’s comments, although seeing them as well-intentioned.The reality is that in Australia’s startup ecosystems we have a complacency, that is fulled by the pedestals that we put founders, on for simply beginning.The rewards we offer at the start to founders, help to discourage the drive for real business and economic outcomes. Being a founder and ceo is now used as a pickup line, when 15 years ago it was something you would hide.We must be weary of calling our founders heroes or giving them title and status before they have earned it.But, we should absolutely, give respect and show respect to every founder putting themselves on the line and having a go, from the start.Jim drew an analogy to athletes, but I would suggest that athletes get respect from competing, but only the winners get the medals and prize money.

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That was your daily precap, I am Domm, thanks for listening.